Cryptocurrency? Sounds almost top secret or like something you've heard about on the dark web. Actually, cryptocurrency is a fascinating form of digital currency that seems to be sweeping the nation. Today, Clint Coons of Anderson Business Advisors talks to Steve Streetman, an avid cryptocurrency investor and real estate speaker, teacher, coach, and agent. Also, Steve is the president of Streetsmart Investments LLC, where he leads acquisition, property management, and business development. Steve has worked in cryptography and high-end computer modeling for more than 30 years. He has successfully acquired multiple commercial properties and is currently active in self-storage, student housing, and assisted living projects. Despite its negative stigma, Steve believes that cryptocurrency is here to stay - at least for a few more years. He shares how real estate and cryptocurrency can work together to make a positive impact.

Highlights/Topics:

What is cryptocurrency? Online digital token; every transaction goes on a Blockchain (series of blocks of data chained together to view future and past transactions)

Actual vs. Cryptocurrency: Buying power of dollar gets less every year, but cryptocurrency isn’t intentionally devalued

Types of cryptocurrency, and where they get their value:

Currency Token:

Bitcoin: Gets value from supply and demand

Trade Options (Troptions): Coins designed to be barter currency

Security Token: Representation of value and ownership via:

Initial Coin Offering (ICO), or

Initial Public Offering (IPO)

Ways to invest in cryptocurrency:

Mining: Requires advanced computers to perform “hash” function faster; winner-takes-all approach to get your block done first to get cryptocurrency

Buy land/property; cryptocurrency appreciation is taxable

Get loan secured by your cryptocurrency to buy real estate

Use cryptocurrency as collateral to avoid tax event; escrow companies hold it

Companies may accept cryptocurrencies to make rental properties appear cool, updated, and modern to appeal to millennials